List the combinations of burgers and magazines that Jerry can afford. What is the relative price of a magazine? Explain your answer. Draw a graph of Jerry’s budget line with the quantity of...

List the combinations of burgers and magazines that Jerry can afford.

What is the relative price of a magazine? Explain your answer.

Draw a graph of Jerry’s budget line with the quantity of magazines plotted

on the x-axis. Describe how his budget line changes if, other things remaining the same, the following changes occur one at a time:

• The price of a magazine falls.

• Jerry’s budget for burgers and magazines increases.